Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Sells $27,075.99 in Stock

Hovnanian Enterprises, Inc. (NYSE:HOV) CEO Ara K. Hovnanian sold 123 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $220.13, for a total transaction of $27,075.99. Following the transaction, the chief executive officer now directly owns 47,156 shares in the company, valued at $10,380,450.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hovnanian Enterprises Stock Up 2.6 %

Shares of HOV opened at $206.34 on Friday. The stock has a 50 day moving average price of $202.41 and a 200 day moving average price of $168.38. Hovnanian Enterprises, Inc. has a one year low of $65.22 and a one year high of $240.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.27 and a current ratio of 1.45. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 6.88 and a beta of 2.64.

Hovnanian Enterprises (NYSE:HOV) last released its earnings results on Thursday, August 22nd. The construction company reported $9.75 earnings per share (EPS) for the quarter. The business had revenue of $722.70 million during the quarter. Hovnanian Enterprises had a net margin of 8.41% and a return on equity of 52.22%. During the same period in the previous year, the company earned $7.38 EPS. Equities research analysts forecast that Hovnanian Enterprises, Inc. will post 30 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Hovnanian Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd.

Institutional Trading of Hovnanian Enterprises

Hedge funds have recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in shares of Hovnanian Enterprises in the second quarter valued at approximately $37,000. CWM LLC boosted its stake in Hovnanian Enterprises by 3,541.7% during the first quarter. CWM LLC now owns 437 shares of the construction company’s stock worth $69,000 after buying an additional 425 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Hovnanian Enterprises by 309.9% in the 1st quarter. EntryPoint Capital LLC now owns 828 shares of the construction company’s stock valued at $130,000 after buying an additional 626 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Hovnanian Enterprises in the 2nd quarter worth $156,000. Finally, Entropy Technologies LP purchased a new position in shares of Hovnanian Enterprises during the 1st quarter worth $205,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.